Dear Residents,
On July 20, 2020, Moody’s Investors Service issued its annual report on the General Obligations bonds issued by the Village of Munsey Park. Moody’s assigned a rating of “Aa2” to the Village. Within the report Moody’s makes the following comments about the Village:
As a credit overview, Moody’s reports that “Munsey Park's credit position is very good. Its Aa2 rating slightly exceeds the median rating of Aa3 for US cities. Key credit factors include a robust financial position, very small debt and pension liabilities, a very strong wealth and income profile and a sound tax base.”
Regarding the Village finances, Moody’s observes that “[t]he village has a robust financial position, which is relatively favorable when compared to the assigned rating of Aa2.”
Finally, with regard to debt and pensions, we quote Moody’s at length: “Overall, the debt and pension liabilities of the village are exceptionally low and are a credit strength when compared to its Aa2 rating. The net direct debt to full value (0.0% rounded) is materially below the US median, and did not change between 2015 and 2019. Furthermore, Munsey Park's Moody's-adjusted net pension liability to operating revenues (0.34x) favorably is materially lower than the US median.”
We are pleased with this report and hope that you are too. The full report is attached below.
Mayor and the Board of Trustees